Huntington National Bank Sells 3,262 Shares of Prologis, Inc. (NYSE:PLD)

Huntington National Bank lessened its stake in shares of Prologis, Inc. (NYSE:PLD - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 200,910 shares of the real estate investment trust's stock after selling 3,262 shares during the period. Huntington National Bank's holdings in Prologis were worth $21,236,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Prologis in the fourth quarter worth $26,000. Crowley Wealth Management Inc. acquired a new stake in Prologis during the 4th quarter worth about $27,000. Centricity Wealth Management LLC purchased a new position in Prologis during the 4th quarter valued at about $30,000. Dunhill Financial LLC increased its holdings in shares of Prologis by 239.5% in the 3rd quarter. Dunhill Financial LLC now owns 258 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 182 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Prologis in the fourth quarter worth approximately $34,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PLD. Truist Financial boosted their price objective on shares of Prologis from $121.00 to $123.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Wolfe Research lowered their target price on Prologis from $135.00 to $128.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. UBS Group raised their price target on Prologis from $121.00 to $137.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. BNP Paribas raised Prologis to a "strong-buy" rating in a research note on Wednesday, January 22nd. Finally, Robert W. Baird raised their price objective on shares of Prologis from $123.00 to $124.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Prologis has a consensus rating of "Moderate Buy" and an average target price of $126.78.

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Prologis Price Performance

PLD stock traded down $4.35 during midday trading on Monday, reaching $93.88. 5,470,663 shares of the company's stock traded hands, compared to its average volume of 3,978,319. The company has a 50-day simple moving average of $116.86 and a two-hundred day simple moving average of $115.46. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 0.53. Prologis, Inc. has a 1-year low of $91.77 and a 1-year high of $132.57. The company has a market cap of $87.02 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 2.70 and a beta of 1.20.

Prologis Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 18th were issued a dividend of $1.01 per share. This is an increase from Prologis's previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, March 18th. This represents a $4.04 annualized dividend and a yield of 4.30%. Prologis's dividend payout ratio is currently 101.00%.

Insider Activity

In related news, CIO Joseph Ghazal sold 10,997 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total value of $1,305,783.78. Following the transaction, the executive now directly owns 7,977 shares in the company, valued at $947,188.98. This represents a 57.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.50% of the company's stock.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.